The U.S. Securities and Exchange Commission (SEC) recently charged Binance and Coinbase, two of the largest cryptocurrency exchanges, with violating securities regulations. The charges have had a significant impact not only on the companies but also on their CEOs. CEOs Experience Personal Losses According to Bloomberg’s Billionaires Index, Binance CEO Changpeng Zhao and Coinbase CEO
Luxembourg, a small country in Western Europe, has initiated a market study on Web3 and blockchain-based firms. The study aims to explore the relationship between blockchain-based products and services and existing digital companies (Web2 firms). The regulator, Autorité de la Concurrence, recognizes the potential of blockchain technology in the future economy and wants to ensure
DeeLance ($DLANCE) is an innovative web3 project that is making waves in the crypto industry. The project is building a blockchain-powered metaverse that aims to unite freelancers and employers, with the promise of revolutionizing remote working and the $761 billion recruitment sector. DeeLance’s approach involves the tokenization of freelance work products into NFTs, which facilitates
According to a recent report from on-chain analytics firm Glassnode, investors are increasingly directing their capital towards low-risk assets such as stablecoins and Bitcoin. The report suggests that technicals indicate altcoins are currently at a critical turning point, poised to experience either a positive or negative breakout. Glassnode’s analysis of Uniswap and futures trading volumes
Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), has criticized the cryptocurrency industry for its lack of compliance. Speaking at the Piper Sandler Global Exchange & Fintech Conference on Thursday, Gensler argued that crypto exchanges can register with the agency, despite platforms’ claims that they have tried to do so. He stated
Rostin Behnam, Chair of the US Commodity Futures Trading Commission (CFTC), has refuted claims that his agency would be a “light touch regulator” for cryptocurrency. Speaking at a House Agriculture Committee hearing, Behnam was asked about opinions that the CFTC is seen as taking a lighter touch when it comes to regulating the crypto industry.
In the last 24 hours, Binance and Coinbase have seen a combined net outflow of $597.2 million across all platforms. This information was obtained from data supplied by Nansen, a blockchain analytics firm. Nansen further broke down the data to show that Binance and its US subsidiary, Binance US, recorded a negative netflow of $491.9
Bitcoin’s price has lost steam due to the failed retest of the $27,400 resistance on June 6, indicating that investors are less confident after the regulatory actions against Binance and Coinbase by the United States Securities and Exchange Commission (SEC). Both exchanges are being sued on multiple counts, including failure to register as licensed brokers
According to a new filing made by the Securities and Exchange Commission (SEC), Binance’s US branch, Binance.US, lost as much as $181 million in 2022, despite receiving $132 million from its parent company BAM Management. The auditor hired by Binance.US, FGMK, attributed the loss to challenging market conditions in the crypto industry. The news of
Democratic Senators Elizabeth Warren and Chris Van Hollen have called for an investigation by the US Department of Justice (DOJ) into Binance and Binance.US’s previous statements made to Congress. In March 2023, Binance wrote a letter to Congress stating that its global and US companies were separate entities and that Binance.US was highly compliant with